logo
Ambani flies to Qatar to meet Trump, second meeting since inauguration

Ambani flies to Qatar to meet Trump, second meeting since inauguration

The Hindu14-05-2025
Richest Asian Mukesh Ambani is flying to Doha to meet U.S. President Donald Trump, his second meeting since Mr. Trump returned to presidency in January this year.
Mr. Ambani will attend a state dinner that the Emir of Qatar is hosting for Mr. Trump at the Lusail Palace in Doha on Wednesday (May 14, 2025), sources with direct knowledge of the matter said.
Reliance Industries Ltd., the firm that Mr. Ambani heads, did not reply to an email sent for comments.
While business discussions are off the table, his oil-to-retail conglomerate has businesses closely tied to decisions of the U.S. President.
Reliance had last year secured waivers from the U.S. to resume importing crude oil from Venezuela. It however had to stop that in March following Mr. Trump authorising a 25% tariff on countries buying the South American country's oil.
Reliance also sells fuels like gasoline made from crude oil bought from countries such as Russia into the American market.
Also, U.S. tech giants such as Google and Meta have taken an equity stake in Mr. Ambani's digital venture.
Reliance has business ties with Qatar as well. The Gulf nation's sovereign wealth fund, Qatar Investment Authority (QIA) has invested about $1 billion in Mr. Ambani's retail venture.
Mr. Ambani and his wife Nita had attended Mr. Trump's second inauguration in January. They were also part of the select 100 who attended an intimate candlelit dinner with Mr. Trump a day prior to the inauguration.
'At the dinner, the two had met Vice-President J.D. Vance and his wife Usha as well,' sources said.
The Ambanis share close ties with the Trump family.
The richest Indian was present when Ivanka Trump, daughter of Donald Trump, visited Hyderabad for the Global Entrepreneurship Summit in 2017. She was an advisor to President Trump then.
He was also present when Mr. Trump visited India last as the U.S. President in February 2020.
Ms. Ivanka, her husband Jared Kushner and their eldest daughter Arabella Rose were among the celebrities who attended the star-studded three-day pre-wedding celebrations of Mr. Ambani's youngest son Anant and fiancée Radhika Merchant in Jamnagar, Gujarat, in March 2024.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

US ready to be part of security guarantees for Ukraine, Germany's Merz says
US ready to be part of security guarantees for Ukraine, Germany's Merz says

Indian Express

time30 minutes ago

  • Indian Express

US ready to be part of security guarantees for Ukraine, Germany's Merz says

The United States is prepared to take part in security guarantees for Ukraine, German Chancellor Friedrich Merz said on Saturday, according to Reuters. Speaking to German broadcaster ZDF, Merz said he and other European leaders had been briefed by US President Donald Trump following his meeting in Alaska with Russian President Vladimir Putin. 'The good news is that America is ready to participate in such security guarantees and is not leaving it to the Europeans alone,' Merz said. Ukrainian President Volodymyr Zelenskyy will meet Trump in Washington on Monday. Merz told ZDF that a three-way meeting between Trump, Putin and Zelenskyy should follow soon with the aim of agreeing to a peace deal. 'If that works out, it's worth more than a ceasefire,' he said. Merz added that Trump suggested Russia might be willing to negotiate on the basis of current front lines rather than the wider regional borders Moscow claims. 'This is a huge difference because Russia is claiming territories that it hasn't occupied yet,' he told ZDF. In a separate interview with broadcaster n-tv, Merz said he did not expect Zelenskyy's talks with Trump to be as difficult as those in February, when the two leaders clashed publicly. He said European leaders would speak with Zelenskyy on Sunday to help him prepare. 'We'll give a few good pieces of advice,' Merz said. Merz also stressed that while European unity was important, the US would remain central to the conflict. 'The American president has the power both militarily and via appropriate sanctions and tariffs to ensure that Russia moves more than it currently does,' he told Reuters.

Trump tariffs: Why gem & jewellery sector fears rivals could undercut Indian exports
Trump tariffs: Why gem & jewellery sector fears rivals could undercut Indian exports

Indian Express

time30 minutes ago

  • Indian Express

Trump tariffs: Why gem & jewellery sector fears rivals could undercut Indian exports

Facing a sharp blow from the US' steep tariff hike, India's gem and jewellery export industry has sought government intervention to cushion the impact and sustain its competitiveness in global markets. The sector finds itself at a crossroads, as rivals like Turkey, Vietnam and Thailand continue to enjoy significantly lower tariffs, making Indian products less attractive in the lucrative American market. The US accounts for nearly 30 per cent — or close to $10 billion — of the total gem and jewellery exports. Kirit Bhansali, chairman of the Gem & Jewellery Export Promotion Council (GJEPC), warned that unless corrective action is taken, India risks losing its hard-won position as a key supplier to the US. The threat isn't just financial — it's strategic. Bhansali expressed concern that international trade may start rerouting via low-tariff countries like Mexico, Canada, UAE, Oman and Turkey, undermining transparency and sidelining legitimate Indian players. This is particularly alarming since 85 per cent of exports from the SEEPZ Special Economic Zone — that employs over 50,000 people — are to the US. For cut and polished diamonds, the US remains the market for nearly half of India's total exports. A prolonged tariff standoff, Bhansali warned, could bring the industry to a grinding halt. The industry has asked the government to roll out a targeted scheme — similar to the Duty Drawback — that would reimburse 25–50 per cent of the new US-bound tariff burden between August and December 2025. GJEPC believes this is vital to prevent disruption across the value chain, stretching from artisanal karigars to large-scale manufacturers. In addition to tariff relief, exporters are calling for temporary financial breathing space. They've requested a six-month deferment on interest payments, a measure that echoes the pandemic-era support extended by lending institutions. With cancelled orders threatening to lock up working capital and push units towards non-performing asset (NPA) status, the Council has urged the government to allow SEZ units to release unsold stock into the domestic market. The sector is also grappling with shipment delays triggered by global uncertainty. To address this, banks are being asked to extend pre-shipment loan due dates by 90 days without penalties. The GJEPC has also called for the reintroduction of the interest subvention scheme, which could offer much-needed liquidity during a period of heightened risk. It has asked both the Centre and the RBI to consider short-term relief packages tailored to the sector's needs. Ironically, while the threat looms large, recent data points to a short-term spike in trade. Gross exports of gems and jewellery rose by nearly 16 per cent in July 2025, reaching $2.18 billion (Rs 18,756 crore), up from $1.88 billion (Rs 15,700 crore) a year ago. Imports too surged 26.5 per cent, as traders rushed to complete orders before the tariff hike took effect in August. A similar surge was seen in cut and polished diamond exports, which jumped nearly 18 per cent to $1.07 billion (Rs 9,230 crore), largely due to pre-emptive stocking by global buyers. This uptick, however, may be short-lived. Colin Shah, MD of Kama Jewelry, termed July's performance as a 'cautionary uptick' — a final flourish before the sector feels the full weight of tariff-induced drag. While new trade agreements like the India-UAE CEPA have unlocked opportunities, the broader landscape remains volatile. High gold prices, geopolitical uncertainty, and unstable metal markets continue to cloud the outlook, he said. The festive and wedding seasons in India may help absorb some of the shock by boosting domestic demand. But for the export-reliant segment, all eyes are now on the trajectory of India-US trade negotiations. With the current 50 per cent tariffs in place, sustaining recent growth could prove difficult, and industry leaders are hoping that policymakers will step in before the sparkle fades.

In first remarks after meeting Trump, Putin calls Alaska summit ‘timely and extremely useful'
In first remarks after meeting Trump, Putin calls Alaska summit ‘timely and extremely useful'

Indian Express

time30 minutes ago

  • Indian Express

In first remarks after meeting Trump, Putin calls Alaska summit ‘timely and extremely useful'

Russian President Vladimir Putin said on Saturday that his summit with US President Donald Trump in Alaska had been 'timely and extremely useful,' adding that Moscow respected Washington's position on the Ukraine conflict and continued to seek a peaceful resolution. Putin gave the remarks in a televised meeting of senior officials in the Kremlin, Reuters reported. Trump, who entered the high-stakes summit warning he 'won't be happy' without a ceasefire and threatening 'severe consequences' if Moscow refused to cooperate, also shelved his threats and instead called the talks 'extremely productive,' after the three-hour meeting with the Russian side that yielded no tangible results. On Saturday, Trump dropped plans for an immediate ceasefire, writing on Truth Social that 'the best way to end the horrific war between Russia and Ukraine is to go directly to a Peace Agreement, and not a mere Ceasefire Agreement, which often do not hold up.'

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store